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Just my thoughts #0781

Nominal Value is the price assigned to an item, such as a book priced at $15.50. Real Value is the adjusted price, considering factors like inflation and depreciation, so the used price of the book reflects this Real Value. Intrinsic Value refers to the worth of the book’s content, which can far exceed its Nominal or Real Value depending on the reader’s ability to understand and apply it. Merchants profit from the gap between Nominal and Real Values, while wise individuals gain by recognizing and utilizing Intrinsic Value. Recognizing and leveraging these values is essential for building wealth. - Joseph’s “just my thoughts”
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Just my thoughts #0462

Knowing the effect means genuinely understanding it. You don’t honestly know just because you comprehend the definition and meaning. We only know when we recognize the effect it has in a specific context, how it influences that context, and what impact it creates, including any aftereffects. Therefore, there are things I am unaware of, so I cannot claim to know everything. Let’s not confuse partial knowledge with complete understanding.


- Joseph’s “just my thoughts”




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